Press Release
Felix Maduegbuna and Stephen Fakrogha, former
chairman and secretary, respectively, of Orgba Multi-Purpose Co-operative
Society Limited, Gboko, Benue State, whose trial on a two-count charge bordering
on conspiracy and criminal breach of trust, started on June 29, 2012
have been found guilty of the charge brought against them by the Economic and
Financial Crimes Commission.
The Ministry of Mines and Steel Development, MMSD,
is said to have awarded the above Co-operative Society the sum of N4,826,850
for the procurement of certain specified equipment.
The duo however breached the agreement entered into
with MMSD and diverted the said money by granting loans to all the members of
the Society, at the rate of N300,000 (three hundred thousand naira)
contrary to the purpose for which the loan was granted them.
Justice Ademola Adeniyi of the Federal Capital
Territory High Court, Apo, Abuja, found the accused guilty of the charge brought
against them and sentenced them to three months imprisonment each on count one,
with an option of fine in the sum of N1,250,000 (one million, two hundred and
fifty thousand naira).
He also found them guilty of count two, and
sentenced them to two years imprisonment with an option of fine in the sum of
N1,250,000 (one million, two hundred and fifty thousand naira)
The
sentences are to run consecutively.
Wilson Uwujaren
Head, Media & Publicity
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